Mises Wire
Author:
Gary North
Online Publish Date:
Henry Hazlitt tried to explain economics in one lesson in his famous book . What lesson? The lesson conveyed by Frédéric Bastiat’s 1850 analogy of the broken window. This is the lesson of the fallacy of the thing not seen. An economist should always consider what the owner of a broken window would have done with the money that he must now spend to